Latest news: Autograph in Fort Lauderdale; Braemar sale; Breakwater adds in Georgia

First Autograph in Fort Lauderdale. GraniteFL LLC, a member of Parsippany, New Jersey-based G Holdings Group, is partnering with Marriott to develop the 205-key The Dunes Fort Lauderdale, an Autograph Collection Hotel in Florida, which will be the first Autograph Collection property in Fort Lauderdale. The hotel broke ground this week.

Braemar completes Seattle sale. Dallas-based REIT Braemar Hotels & Resorts has completed the previously announced sale of the 369-key Marriott Seattle Waterfront in Washington for $145 million to a joint venture between Six Street Partners and Riller Capital. Following the sale, Braemar repaid nearly $88.4 million of debt and retained approximately $50.8 million in net proceeds after covering transfer taxes and transaction expenses. In March, Braemar secured a $363 million refinancing deal for five of its luxury properties, including the Marriott Seattle Waterfront. RobertDouglas advised Braemar on the sale.

Breakwater acquires in Georgia. Charleston, South Carolina-based Breakwater, through its affiliate, has partnered with Augusta, Georgia-based BR Investments to acquire a 175-key Ramada Hotel in Augusta from an undisclosed seller, with plans to renovate and rebrand it into a premium, soft-branded hotel. The hotel originally opened in 1974 as the Executive House Hotel and was later rebranded under Ramada in 1999. It is one of only two hotels in the United States designed by renowned architect I.M. Pei, best known for the Louvre Pyramid in Paris.

Ofland adds in California. Las Vegas-based Ofland Hotels has secured approval for the 100-key Ofland Twentynine Palms in California. This will be the largest development project to date for the boutique outdoor hotel brand. Development will occur on approximately 42 acres of the 152-acre site, which sits adjacent to Indian Cove and Joshua Tree National Park. The remaining 110 acres will be permanently conserved to protect surrounding wildlife and land and to minimize noise and light pollution.

Nexgen acquires in Texas. Dallas-based Nexgen Management has secured $15.9 million in financing for the acquisition of the Hampton Inn El Paso in Texas from an undisclosed seller. The financing consisted of a $13.9 million senior CMBS loan and a $2 million mezzanine loan, representing over 80% loan-to-purchase price leverage. Chicago-based Mag Miles Capital arranged the five-year, fixed-rate financing.

Europe construction pipeline. Europe’s total pipeline stands at 1,690 projects and 248,972 rooms as of the second quarter, according to the latest data from Lodging Econometrics. As of the second quarter’s close, 44% of the hotel projects in Europe’s total pipeline are in the under construction stage, standing at 744 projects and 112,483 rooms. Another 376 projects with 57,414 rooms are scheduled to start construction in the next 12 months, while projects in the early planning stage reached a record-high 570 projects with 79,075 rooms, up 11% by projects and 10% by rooms year-over-year. The luxury chain scale reached a record-high of 169 projects and 21,550 rooms, while the upper upscale chain scale also hit record-high totals with 283 projects and 45,376 rooms.   Development pipeline activity remained robust in the second quarter, with construction starts totaling 94 projects and 13,338 rooms, a 12% increase in projects YOY. New project announcements showed strong growth with 121 projects and 17,982 rooms, representing a 15% increase in projects and 36% increase in rooms YOY. Combined hotel renovations and brand conversions in Europe at Q2 stand at 668 projects/85,099 rooms.

First Mama Shelter in Asia. Ennismore’s Mama Shelter will open its first hotel in Asia this September with the 115-key Mama Shelter Singapore. The brand has grown to 20 locations worldwide, including London, Lisbon, Dubai and Nice. 

BHVL opening 6 Marriotts in India. Brigade Hotel Ventures Ltd. (BHVL) has signed a multi-deal agreement with Marriott International to open six new hotels comprising 940 rooms that will be developed in four markets in India. The expansion will feature properties under the The Ritz-Carlton, JW Marriott, Marriott Hotels & Resorts, Courtyard by Marriott and Fairfield by Marriott brands. BHVL has had a nearly 15-year partnership with Marriott and will have eight total and 1,388 keys after this deal.

Capstone adds in New Zealand. Nelson, New Zealand-based Alfred Taylor Development appointed Capstone Hotel Management as the operator of the new-build 123-key The Alfred Hotel in Blenheim, New Zealand. The hotel is scheduled to open in 2027. Capstone will now have 20 hotels under management.